OCEG GRCA Dumps Questions Answers

Governance is defined as "externally directing, controlling and evaluating an entity, process, or resource". It involves establishing policies, and continuous monitoring of their proper implementation, by the members of the governing body of an organization. It ensures that the entity is operating effectively and in alignment with its objectives and regulatory requirements. Governance encompasses a wide range of activities, including strategic planning, decision-making, and oversight, all aimed at achieving the entity's goals while managing risk and ensuring compliance.References:

ISO 38500:2015 - Information technology - Governance of IT for the organization

OECD Principles of Corporate Governance

The level of assurance required for an assessment can vary depending on the purpose, scope, and objectives of the assessment. It is crucial to define the desired level of assurance (low, medium, or high) before beginning the assessment to ensure that the approach, methodology, and resources allocated are appropriate. This helps in setting clear expectations and aligning the assessment process with the organization's risk tolerance and regulatory requirements.References:

ISO 19011:2018 - Guidelines for auditing management systems

COSO Enterprise Risk Management – Integrating with Strategy and Performance

Including the personnel who perform the work being assessed in the planning process is important because they possess valuable insights and knowledge about the processes and controls in place. Their involvement helps to ensure that the assessment is accurately scoped and relevant parameters are set. They can provide context and clarify operational details, contributing to a more effective and targeted assessment. Moreover, their engagement can foster a cooperativeenvironment and facilitate smoother assessment execution.References:

ISO 19011:2018 - Guidelines for auditing management systems

COSO Internal Control – Integrated Framework